Galactic Gold Announces Helicopter - Born VTEM(TM) and Horizontal Magnetic Gradiometer Geophysical Survey; Non- Brokered $1 Million Private Placement
Galactic Gold Announces Helicopter - Born
VTEM(TM) and Horizontal Magnetic
Gradiometer Geophysical Survey; Non-
Brokered $1 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 7, 2026) - Galactic Gold Corp. (TSXV: GGAU)
("Galactic Gold" or the "Company") is pleased to announce the commencement of a helicopter - Borne
VTEM and Horizontal Magnetic Gradiometer Geophysical Survey designed to investigate the mineral
potential across the Company's Hardrock West Properties in the Geraldton, Ontario area. The Company
is also pleased to announce a non-brokered private placement offering (the "
Private Placement
") of
common shares of the Company at a price of $0.25 per common share for aggregate gross proceeds of
up to $1,000,000.
The approximately 2,000 line/km (150m spacing) airborne geophysics program will evaluate key
Orogenic Faults encompassing more than 85 kms of strike length on the Hardrock West Properties. In
addition, the high-resolution data is expected to identify secondary structures, conductive and magnetic
anomalies, and refine drill targets.
The airborne program will also provide important data to support the previously announced (March 3,
2026 news) integrated interpretation of historical exploration data and district-scale structural and
geophysical analysis. This extensive data compilation-work conducted by Exploration Machine Inc.
identified property-wide controls on gold mineralization linking multiple target areas across the property
and provide important framework for target generation and exploration prioritization.
Priority Targets
The property area was divided into 19 subareas and systematically evaluated. The following high-priority
targets have been identified for near-term advancement:
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1 - Anchor Targets (Near-Term Drilling)
Kowalski Lake:
Strong historical drill intercepts from a severely under-drilled system where
recommended follow-up was never completed. Favorable structural setting near a Paint
Lake Fault flexure and major fault intersections.
Solomon's Pillars:
Strong soil anomaly coincident with a historical prospect on the Watson
Lake Fault, where recommended follow-up was never completed. Favorable structural
geometry including flexure and splay development, with very limited drilling within the
anomaly to date.
Tier 2 - High-Priority Targets (Advancing toward Drilling)
Trench Lake:
Repeated high-grade surface results over decades along Paint Lake Fault
corridor. Historical drilling incomplete with portions unassayed.
Turkey Lake & Wildgoose South:
On trend with the nearby Hardrock Gold camp, with
high-grade historical drilling near claim boundaries. Structurally favorable but masked by
overburden. Standout lake sediment anomaly.
Angle-Watson Lake:
Along the same structure as past-producing mines west of the
property. Multiple high-grade surface occurrences and demonstrated gold system with
arsenopyrite association.
Kenneth-Daphne Lake:
Large, underexplored area with multiple deposit styles and nearby
high-grade occurrences, including shear-hosted and intrusive-related gold systems.
Coral Lake:
Anomalous drilling results within a structurally complex zone east of Kowalski
Lake. No modern follow-up.
Proven Mineralized Orogenic Gold Structures
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Galactic Gold's CEO, Ken Berry commented:
"
Located within the prolific Hardrock West Properties,
encompassing more than ~85 kilometers of orogenic faults and positioned adjacent to major gold
deposits and a producing mine, the Hardrock West Property remains significantly underexplored by
modern standards relative to surrounding ground.
"
Non-Brokered $1 Million Private Placement
The Company intends to complete on a best efforts basis, a Private Placement of common shares of the
Company (each, a "
Common Share
") at a price of $0.25 per Common Share for aggregate gross
proceeds of up to $1,000,000.
The net proceeds from the Private Placement will be used for exploration activities related to the
Hardrock West property, working capital and general corporate purposes.
The securities to be issued under the Private Placement will be offered by way of private placement in
each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined
by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements
under applicable securities laws.
The Private Placement is anticipated to close on or before April 30, 2026, or as decided by the
Company ("
Closing
") and is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals. The Shares to be issued under the Private Placement will have a hold
period of four months and one day from Closing.
In connection with the Private Placement, arms-length finders may receive a cash fee in respect to their
subscribers equal to 6.0% of the gross proceeds.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and
accordingly, may not be offered or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation
to buy any securities in any jurisdiction.
Qualified person
Jason Arnold, P.Geo., President of DCX Geological Consulting and an independent Qualified Person as
such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has
reviewed and approved the geological information reported in this news release. The Qualified Person
has not completed sufficient work to verify the historical mine production, and it is not considered NI43-
101 compliant and may not be representative of expected results on the subject property. Mineralization
hosted on adjacent and/or nearby properties, particularly with respect to neighbouring mineral
reserves/resources, is not necessarily indicative of mineralization that may be hosted on the Company's
property.
About Galactic Gold Corp.
Galactic Gold Corp. is a resource development company focused on unlocking the full potential of its
100%-owned Hardrock West Property, located in the top tier mining jurisdiction of Ontario. Over 57 km
of combined strike length along two major gold bearing structures and 10 km away from Equinox Gold's
Greenstone Mine. Galactic Gold is positioned between Equinox Gold Greenstone Mine and Equinox's
Brookbank Deposit along what Laurentian University in its Metal Earth Research has identified super
structures across the Galactic Gold Property underscoring the Project's strong value-creation potential.
For further information, please contact:
Kenneth Berry,
or
Frank Lagiglia,
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements that are based on the Company's current
expectations and estimates. Forward-looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will" occur, and include, without
limitation, statements regarding the Company's current plans and business objectives. Such forward-
looking statements involve known and unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such forward-looking statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking
statements are based on a number of assumptions which may prove to be incorrect, including, but not
limited to: assumptions regarding future metals prices, debt and equity financing market conditions,
receipt of regulatory approvals, and other factors. The cautionary statements qualify all forward-looking
statements attributable to the Company and persons acting on its behalf. Any forward-looking statement
speaks only as of the date on which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether
as a result of new information, future events or results or otherwise. More particularly, this news release
contains statements concerning the anticipated Private Placement. Accordingly, there is a risk that the
Private Placement will not be completely sold, or the Private Placement will be completed within the
anticipated time or at all. There can be no assurance that forward-looking statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such
statements. Accordingly, undue reliance should not be put on such statements due to the inherent
uncertainty therein.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
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